Interactional function of risk management and value engineering in civil projects (case study: 108-unit residential complex project in Parand New Town)

Majid Razeghi Jahromi, Fatemehsadat Mousavifard and Abdolhossein Ayoubi

International Journal of Procurement Management, 2018, vol. 11, issue 3, 343-355

Abstract: Risk management is known as a process of properties maintenance and the ability in money making and value engineering and management is an inseparable part of risk management. Unified value management and risk management establishes synergy. This study is done with the intention of studying interactional function of value engineering and risk management in civil projects while Dallas model is considered as theoretical model. In this study implementation of value engineering and risk management was done in a unified practical way. Findings indicate that implementation of his model in construction phase of building project will lead to decrease in approximately certain costs as much as 24.77% while project temporary delivery and finalising the project are getting near, decrease rate of final costs will reach 21.32%. After procedures and studying results of tables, it can be concluded that interactional function of risk management and value engineering in this project was accompanied with 7.35% of savings.

Keywords: risk management; value engineering; civil projects; residential complex project; interactional function; costs; saving; maintenance; delivery; risk measurement. (search for similar items in EconPapers)
Date: 2018
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